Journalize the Following Sales Transactions for Power Equipment Using the Periodic

question 269

Essay

Journalize the following sales transactions for Power Equipment using the periodic inventory system. Explanations are not required.
July 1: Sold $4,200 of equipment on account, credit terms are n/30, FOEdestination.
July 5: Iaid $\$ 90$ on freight out.
July 11: Received payment from the customer for the full amount due on the July 1 sale.

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Definitions:

Legitimate Power

Power that is recognized as rightful or lawful, often derived from a position of authority or social structure.

Expert Power

The influence and authority a person has as a result of their expertise, skills, or knowledge.

Referent Power

A form of power that stems from being admired or respected, often due to charismatic qualities or identification with the person who has the power.

Legitimate Power

The authority an individual has because of their position in an organization's hierarchy, contributing to their ability to influence others.